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Feb 29, 2024
Accenture Q2 2024 Earnings Report
Accenture's financial performance remained stable with slight revenue decrease and increased EPS.
Key Takeaways
Accenture reported flat revenue of $15.8 billion, with consulting revenues at $8.0 billion and managed services revenues at $7.8 billion. GAAP EPS increased by 10% to $2.63, and adjusted EPS increased by 3% to $2.77. New bookings reached $21.6 billion. The company updated its fiscal year 2024 outlook, projecting revenue growth of 1% to 3% in local currency.
Revenues were $15.8 billion, flat compared to the second quarter of fiscal 2023.
GAAP EPS increased by 10% to $2.63, and adjusted EPS increased by 3% to $2.77.
New bookings totaled $21.6 billion, with consulting bookings at $10.5 billion and managed services bookings at $11.1 billion.
The company expects full-year revenue growth of 1% to 3% in local currency.
Accenture
Accenture
Accenture Revenue by Segment
Accenture Revenue by Geographic Location
Revenue by Segment
Consulting Revenue
CapyFin.comManaged Services Revenue
CapyFin.comRevenue by Geographic Location
EMEA Revenue
CapyFin.com Forward Guidance
Accenture expects revenues for the third quarter of fiscal 2024 to be in the range of $16.25 billion to $16.85 billion, or negative 1% to positive 3% in local currency. For fiscal year 2024, the company now expects revenue growth to be in the range of 1% to 3% in local currency.
Positive Outlook
- Revenue growth of 1% to 3% in local currency is expected for fiscal year 2024.
- GAAP operating margin for fiscal 2024 is expected to be 14.8%.
- Adjusted operating margin for fiscal 2024 is expected to be 15.5%.
- GAAP diluted EPS is expected to be in the range of $11.41 to $11.64.
- Adjusted EPS is expected to be in the range of $11.97 to $12.20.
Challenges Ahead
- Third quarter fiscal 2024 revenue is expected to be impacted by approximately negative 1% foreign-exchange impact.
- Revenue growth outlook for fiscal year 2024 was revised down from 2% to 5% to 1% to 3%.
- GAAP operating margin outlook for fiscal year 2024 was revised down from a range of 14.8% to 15.0% to 14.8%.
- Adjusted operating margin outlook for fiscal year 2024 was revised down from a range of 15.5% to 15.7% to 15.5%.
- GAAP diluted EPS outlook for fiscal year 2024 was revised down from a range of $11.41 to $11.76 to $11.41 to $11.64.
Revenue & Expenses
Visualization of income flow from segment revenue to net income